NEWS ARCHIVE

Narrabri Power secures $3.5m Rothschild funding

Eastern Star Gas has secured vital financial backing from N M Rothschild to supply $3.5 million of general working capital and construction funding for the development of the company’s Narrabri Power Project’s 10MW gas fired power station at Narrabri, NSW.

Narrabri Power secures $3.5m Rothschild funding

The Narrabri Power Project comprises a gas gathering system which moves gas from the Coonarah Gas Field (ESG 100%) to a new purpose-built 10 MW power station (ESG 100%) 12 kms west of Narrabri, NSW.

Construction of the power station and associated switchyard for connection to adjacent 66 kV transmission lines, are all nearing completion with the project close to budget and forecast start-up.

On current scheduling, Eastern Star Gas anticipates first power delivery mid June, with ramp-up to full capacity shortly thereafter.

From there the power produced is delivered directly to Country Energy’s existing 66 kV transmission line. ESG has entered into a 10 year agreement with Country Energy for the off-take of all power produced.

The project will commercialise 11.3 PJ of gas reserves and generate cash flow totalling over $35 million over the next ten years. The power plant can easily be scaled up when additional gas is found.

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